Sky Harbour Group (NYSE:SKYH) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Sky Harbour Group’s trading volume rose 29% to approximately 187,137 shares, while the stock gained 0.6% to $11.447. Its market capitalization is about $854 million, though its P/E ratio is elevated at 279.25.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and a $13.50 price target, with recent coverage including a Strong Buy upgrade and a Buy rating with a $14 target.
• The company missed quarterly expectations, reporting an EPS loss of $0.16 versus the $0.11 expected and revenue of $8.72 million versus $9.96 million. A director purchased 5,000 shares, while insiders hold 40.7% of the company.

Shares of Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) saw strong trading volume on Tuesday . Approximately 187,137 shares changed hands during trading, an increase of 29% from the previous session's volume of 144,698 shares.The stock last traded at $11.4470 and had previously closed at $11.10.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Noble Financial upgraded Sky Harbour Group to a "strong-buy" rating in a report on Monday, May 18th. Roth Capital initiated coverage on shares of Sky Harbour Group in a report on Friday, July 31st. They set a "buy" rating and a $14.00 price target for the company. Finally, Weiss Ratings upgraded shares of Sky Harbour Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Sky Harbour Group Trading Up 0.6%

The stock's 50-day moving average price is $9.97 and its 200-day moving average price is $9.68. The company has a market cap of $854.44 million, a P/E ratio of 279.25 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%.The firm had revenue of $8.72 million during the quarter, compared to the consensus estimate of $9.96 million. On average, research analysts anticipate that Sky Harbour Group Co. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sky Harbour Group news, Director Andrew J. Gessow acquired 5,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $8.95 per share, with a total value of $44,750.00. Following the completion of the purchase, the director owned 17,910 shares of the company's stock, valued at approximately $160,294.50. This represents a 38.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 40.70% of the company's stock.

Hedge Funds Weigh In On Sky Harbour Group

Several large investors have recently added to or reduced their stakes in SKYH. BNP Paribas Financial Markets increased its holdings in Sky Harbour Group by 145.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company's stock worth $49,000 after purchasing an additional 2,971 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Sky Harbour Group in the fourth quarter valued at approximately $83,000. Quadrant Capital Group LLC bought a new position in shares of Sky Harbour Group in the third quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sky Harbour Group by 68.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company's stock valued at $114,000 after buying an additional 4,721 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Sky Harbour Group by 9.9% during the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company's stock valued at $135,000 after buying an additional 1,357 shares during the last quarter. Institutional investors own 14.75% of the company's stock.

Sky Harbour Group Company Profile

Sky Harbour Group Inc is a U.S.-based real estate development and operating company focused on private aviation infrastructure. The company specializes in the acquisition, design and management of fixed-base operations (FBOs), aircraft hangarage and private terminals that serve business and general aviation operators. By providing expedited ground handling, concierge services and state-of-the-art facilities, Sky Harbour seeks to streamline the operations of private jet owners, fractional-ownership programs and charter operators while reducing congestion at major airports.

Through strategic leases and joint-venture partnerships, Sky Harbour has established a growing presence at key regional and metropolitan airports across the United States.

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